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Farm Management Software and Data Analytics Market Revenue and Volume Forecast 2020-2025
Posted: Mar 13, 2021
With the exponential growth in the world population, the subsequent rise in the global demand for food and animal protein, the need to improve the farming operations, with the incorporation of precision agriculture equipment and software has become critical. Therefore, countries in North America, Europe, and Asia-Pacific & Japan, among other regions are inclining toward adopting advanced farming technologies, such as digital farming analytics tools, to improve the agricultural yield. One of the impending concerns on the farming industry is the variable climate and shortage of skilled agricultural workforce, along with the pressure of providing high-quality crops. Moreover, according to the estimation made by FAO, the demand for animal products and proteins is likely to increase over the upcoming years. To overcome these challenges, the adoption of digital farming solutions such as farm management software and data analytics in farming practices has been accelerated in order to increase the farm produce per hectare.
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With the exponential growth in the world population, the subsequent rise in the global demand for food and animal protein, the need to improve the farming operations, with the incorporation of precision agriculture equipment and software has become critical. Therefore, countries in North America, Europe, and Asia-Pacific & Japan, among other regions are inclining toward adopting advanced farming technologies, such as digital farming analytics tools, to improve the agricultural yield. One of the impending concerns on the farming industry is the variable climate and shortage of skilled agricultural workforce, along with the pressure of providing high-quality crops. Moreover, according to the estimation made by FAO, the demand for animal products and proteins is likely to increase over the upcoming years. To overcome these challenges, the adoption of digital farming solutions such as farm management software and data analytics in farming practices has been accelerated in order to increase the farm produce per hectare.
Owing to the adverse impacts of climate change, rising global temperatures, and increasing chances of drought in landlocked areas, growers and agriculture stakeholders are exploring alternatives to conventional farming methods. Moreover, the increasing global population and decrease in the arable land is also impacting agricultural production. With the growing disposable income, the demand for fresh, healthy, and nutritious food is surging rapidly. Moreover, the United Nations has urged the governments across all countries to ensure the availability of enough food for everyone by assigning the issue as a part of the Sustainable Development Goals. Agriculture technology players operating in the agriculture sector are focusing on research and development to improve the operational capabilities for cost-effective commercial establishments.
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In the process of addressing the global food demand, farmers are also focusing on improving the yield and managing the farm operations effectively. Farm management software and data analytics help farmers to monitor crops, and reduce the exploitation of resources, thereby increasing yield and profitability. It also offers site-specific farming. Data analytics manages, centralizes, and optimizes the farms' production activities and helps the farmer in decision-making, using that information throughout the production cycle. Farm management software and data analytics have found use cases in yield monitoring, crop scouting, animal health, and growth monitoring, and aquaculture species tracking. The forecast results for these agricultural processes in the market are powered by sensors and imaging equipment integrated with farm management software. The increasing adoption of digital farming practices in the agriculture market has led to an optimistic growth of the farm management software and data analytics market.
Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.